There’s a definite change in the air, the kids have gone back to school, the nights are drawing in, and we’re thinking of getting out our winter jumpers again. March is here!
The Reserve Bank met in the first week of the month, and official rates are currently sitting at 1.50 percent.
I hope you enjoy this month’s eNewsletter. I take a look at the latest reports on housing affordability and the new wellness trend in home design.
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It’s finally getting more affordable to buy a house in Australia
A recent HIA report has given us some welcome news.
According to HIA Senior Economist, Shane Garrett, Sydney’s softer home prices in the final quarter of 2017 has contributed to improved housing affordability across the property market. The quarterly HIA Affordability Index measures mortgage repayments burden as a proportion of average earnings in each market. A higher index result means a more favourable affordability outcome.
For the December 2017 quarter, the Index saw a small 0.2 percent improvement, which suggests affordability challenges has eased. And means buying a home is a little more accessible, particularly for First Home Buyers. “Affordability conditions in Sydney are still more challenging than any other city. After Sydney, Melbourne has the second highest mortgage repayment burden," Mr Garrett said.
However, housing prices are now more affordable in the other six capital cities today than over the past 20 years due to very low interest rates.
Thinking of buying a new home? Let’s chat. I can give you the low down on everything you want to know about mortgages but were afraid to ask your lender.
Trend alert: The new wellness home
You might have noticed a new trend emerging lately – the wellness home – fuelled by our contemporary desire to optimise and improve our lives as much as possible.
Traditionally, health and wellness have been restricted to gyms, leisure centres, spas and hotels. But today’s hectic modern lifestyles mean we’re increasingly looking to our homes as sanctuaries that can tackle a range of issues: sedentary work, unhealthy diets, stress, social isolation, pollution and nature deprivation.
As a result, architecture and design are beginning to create buildings with a positive impact on human health.
Studies show that contact with nature has positive effects on health and wellbeing, and is a critical component in optimal healing. Green developments, communal gardens and even embedding energy-producing algae within walls are all on the rise in the property market.
Architects are also teaming up with neuroscientists to learn how light, colour and intensity affects heart rate variability, a sensitive indicator of mental engagement and health risk. In fact, early experiments have revealed heart variability can change when people are exposed to just 15 minutes of different electrical light conditions in a controlled space.
Creating more wellness in your home-life is far simpler than injecting algae into your walls. Just add a few plants to your bedroom and living spaces – they can clean the air, detoxify your environment and remove C02 while you sleep.
NASA recently recommended the Pineapple Plant (ananas comosus) to reduce snoring and enhance rest, while Devil’s Ivy and Peace Lily can eradicate toxins like xylene, benzene, formaldehyde and acetone – a carcinogen found commonly in polishes and paints
Now that’s a compelling reason to cultivate a green thumb!
Do a wellness makeover of your home right now with a little extra cash from the bank. There’s a raft of great refinancing deals available at the moment – and I can help you find the right one for you.
